During a session that has a handful of strong announcements, this could be an interesting trading day. The Core Retail Sales and Retail Sales figures coming out of the United Kingdom will be important, just as Federal Reserve Chairwoman Janet Yellen is speaking. We also get New Home Sales numbers coming out of the United States as well, so there should be plenty of action.

WTI Crude Oil

The WTI Crude Oil market started to fall at the open on Wednesday, as a continues to reach towards the $47 level. A break below that level should be very negative, and send put buyers into the marketplace hand over fist.

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USD/JPY

The USD/JPY pair has broken to a fresh, new low, and therefore looks likely to continue going lower. Put buyers will be very interested in this market, and the rallies could be opportunities for them as well. Alternately, if we find ourselves breaking above the 112 level, this could be attractive for call buyers.

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Natural Gas

The natural gas markets have fallen slightly during the day on Wednesday, but the $3 level underneath will of course offer quite a bit of psychological support. If we can break down below that level, then the put buyers will be attracted to this market more than likely as it would make the hammer from Tuesday a “hanging man.”

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